Ola Electric Mobility share price rallies 65% this month. Is the worst behind?

Ola Electric Mobility share: After ushering in the new financial year 2026-27, Ola Electric Mobility share price has been in a continuous bull trend. Ola Electric Mobility shares finished at ₹22.80 apiece on the NSE on the last trading session of FY26, i.e. on 30th March 2026. The stock is currently trading around ₹38.10 per share, logging over 65% rise in this month.

This rally in Ola Electric Mobility shares has sparked debate over whether the worst is behind and whether the stock is ready for a re-rating. This is because the stock had a dream run on Dalal Street after listing on 9th August 2024. However, after some time, the stock came under the bears' radar, and the stock became an ideal ‘sell on rise’ stock in the Indian stock market.

According to stock market experts, the rally in Ola Electric's share price is driven by rising EV sales and improving sentiment toward EVs. They said that Ola Electric shares are on the cusp of giving a technical breakout at ₹46 apiece and can go up to the ₹60 per share mark after this technical breakout.

Triggers for Ola Electric Mobility share price rally

Speaking on the reasons fueling Ola Electric's shares, Aakash Shah, Research Analyst at Choice International, said, Ola Electric Mobility share price rally is driven by improving EV sales, positive updates on battery and Gigafactory developments, positive EV sector sentiment and strong investor sentiment.

“The stock has broken above its 20-, 50-, and 100-EMA levels, suggesting a potential trend reversal after a prolonged downtrend. RSI is in the overbought zone, suggesting strong momentum but also a chance of short-term consolidation. It is now approaching its 200-day EMA, which may act as a key resistance zone,” the Choice International expert added.

Ola Electric share price target

“If the stock sustains above ₹42, it could move towards the ₹48 to ₹52 levels. On the downside, ₹36 is immediate support, while ₹32 remains a strong stop-loss zone,” Aakash Shah of Choice International said.

Expecting the bull trend to continue further, Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi, said Ola Electric Mobility share is currently trading around ₹38, with a fresh trendline breakout observed above the ₹30 level, indicating improving bullish momentum. In the near term, the stock is expected to move towards a target of ₹46.

The Anand Rathi expert said that a sustained breakout above ₹46 could further strengthen the uptrend, potentially leading to a channel breakout and opening up higher targets around ₹60.

"Investors may consider a 'buy on dips' strategy, maintaining a stop-loss at ₹30, while aiming for upside targets of ₹46 and ₹60 in the medium term,” said Dongre of Anand Rathi.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.